Robert 'Crab Bait' White consents to losing his houses

[aesmith]

I reckon the only true winner will be the trustee. He's already had £56K in fees and is in line for another £40K. I think it's pretty likely the unsecured creditors are going to get nothing, but I'm not sure of the ranking between trustee's fees and the bank's interest if the sale price doesn't cover both.

[AnOwlCalledSage]

I reckon the only true winner will be the trustee. He's already had £56K in fees and is in line for another £40K. I think it's pretty likely the unsecured creditors are going to get nothing, but I'm not sure of the ranking between trustee's fees and the bank's interest if the sale price doesn't cover both.

Doesn't the documentation state that the bank redemption fee as of 6/4/2020 is £244,915.59?

Correct me if I'm wrong but I thought the redemption statement is the amount that the bank seeks in full settlement of the mortgage and fees and charges? Therefore, the bank will be getting its money.

And as for the creditors getting nothing, whilst it is contingent on final sale prices, the trustee is estimating that after his fees that the creditors will be getting 92p in the £1, which is a pretty remarkable outcome from most bankruptcy proceedings.

The only big time loser is Crabbie who, if he hadn't followed the path of his own stupidity, would be walking away with his wife's share of the equity.

[aesmith]

And as for the creditors getting nothing, whilst it is contingent on final sale prices, the trustee is estimating that after his fees that the creditors will be getting 92p in the £1, which is a pretty remarkable outcome from most bankruptcy proceedings.

That's assuming the property sells for £330K, and they don't rack up a ton of costs prising the Crab out of his fortress. The valuer hasn't even seen the property in its current state. Even a 10% drop in sale price wipes out anything for the creditors.

[AnOwlCalledSage]

That's assuming the property sells for £330K, and they don't rack up a ton of costs prising the Crab out of his fortress. The valuer hasn't even seen the property in its current state. Even a 10% drop in sale price wipes out anything for the creditors.

I understand that most around these 'ere parts like to emphasise the potential punitive costs but a reputable eviction firm with a High Court writ appears to charge around £2,000 for the service and even if he trashes the fixtures and fittings, it's not going to be that great a cost unless he undermines the foundations, in which case I suspect some rather more serious charges will await him in the Crown Court.

My previous house had been completely wrecked by the owners before the ones I bought it from. They'd smashed the windows, trashed the kitchen and bathroom, torn up the floorboards and ceilings, demolished the stairs and sprayed "F*** HALIFAX" all over it (I was given the photos!) The people who bought it did it up themselves for around £10,000. A professional developer could sort out the most trashed house for less than £20,000 if there is no collapse or rot.

The redemption value will already include existing charges such as court fees and the failed repossession costs. Losing 10% does not wipe out the creditors. It means they will get 82p in the £1 instead of 92p. Under normal circumstances in bankruptcy they'd bite your hand off for that.

And that's without factoring in that Zoopla has a current lower end estimate at £340k, at 4 bedrooms it will command the street's ceiling price and since then there is now zero stamp duty on properties under £500,000 so it could go for more.

I need to stop watching Homes Under The Hammer!

[exiledscouser]

Sale costs and creditors aside there’s still one thorny issue here and that’s winkling Crabbie out of his shell. He seems determined to go out with as much of a bang as possible. There’s not much left; the BTL property empire is all but wound up and sold off, his Missus has joined the Choir Invisible, the remaining equity in his home will go forever and his adoring followers have made just five worthless comments on his FB page. There’s no sign of the uniformed goons from “CLC Enforcement” sprinting to his rescue either.

You may recall that his wife went to live elsewhere some time ago. It’s clear that her husband’s actions have greatly worried the poor woman at a time when her health was already starting to go south. She claimed in an interview with an agent of the Trustee (reported in the above pdf and contained within a letter) both that she had no knowledge of her husband’s financial affairs and that, whatever it was that she had no knowledge of was making her very ill with worry.

If he truly loved his wife (and I’m not at all sure that he did) he would have abandoned or at least put on hold his self-destructive path and given her some attention and quality time. But it appears he put his selfish squabble with the Man before her needs.

Best approach would be to act when Bob pops out for some milk, serve him with a fait accompli, avoid any unnecessary grief and increased risk to those tasked with repossessing Crab Castle. Tin the place properly this time and off to auction toot sweet.

[aesmith]

Losing 10% does not wipe out the creditors. It means they will get 82p in the £1 instead of 92p. Under normal circumstances in bankruptcy they'd bite your hand off for that.

Are you assuming that all the costs would scale down by 10% as well? I was taking the possibly simplistic view that a 10% drop in sale price loses £33k while the costs would all be more or less unchanged. Whereas you estimate that losing £33k from the sale will only knock £3K off the final balance.

As far as the impact on sale price I guess time will tell. Rehka Patel's house sold for something like 70% of the initial valuation.

[hucknallred]

Latest tactic seems to be the O'Bonkers 'send a load of bollocks to the land registry' which has a 100% success rate as we know.

Robert White

HM Land Registry:

Do you trust them?

Me and my good friend Curtis have been testing them. I only started it today after my good friend showed me some good evidence of fraud. I emailed them this morning concerning some important documents, got a reply this afternoon with some very interesting information.

All will be revealed when we have all the info we need. To be continued.

[mufc1959]

So it still boils down to who is legally first in line with their hand(s) out, So even though the bank got Casa Crab in foreclosure the trustee was really there first with a claim in time, it will probably be up to the courts who gets what. Around here, taxes almost always come before anything/one else.

What will probably happen is that the bank will get to finish the heavy lifting since they already have the Restitution Order and get their money back, if they can, and then the residue, assuming there is any, will all go to the trustee, leaving Crabbert with a big fat bupkis. Really really sucks to be him.

The court won't decide who gets what, because the bank has a first legal charge on the property. The bank, as a secured creditor pre-dating the bankruptcy, is paid first.

And as I said above, I think the bank has lost its appetite to incur further costs; its security isn't at risk as there's plenty of equity, but the Trustee sees the pot available to pay his costs and a small amount left over for the other creditors dwindling with every month the mortgage goes unpaid. Hence, the Trustee now wants to force possession, but he most definitely will NOT take his share first, as the bank's charge takes precedence.

[Hercule Parrot]

Best approach would be to act when Bob pops out for some milk, serve him with a fait accompli, avoid any unnecessary grief and increased risk to those tasked with repossessing Crab Castle. Tin the place properly this time and off to auction toot sweet.

Yeah, they'll re-run The Taking of Crawford Castle. Wait for Krabby to go out to a court hearing or a meeting with his PLD fans, medical appointment or whatever. If he forces entry again, repeat and rinse at his own expense, plus contempt of court, injunction or breach of bail conditions.

It's clear from the Perkins application that while Krabby has been delighting his fans with Braveheart-style rhetoric, the trustee has been patiently liquidating his estate and grinding inexorably towards The Taking of Krabby Kastle. He can fight some more, cause a few more delays and incidents, but the die is cast now.

It's sad to see any man's life turn this way, but Krabby has kept his word "I don't care about the money, I'll do whatever I can to disrupt". So be it.

[TheNewSaint]

Yeah, they'll re-run The Taking of Crawford Castle.

I think it'll go more like the taking of David Ward's embassy. Lots of bluster, and precautions having to be taken, but little actual resistance on the day of reckoning.

[hucknallred]

I think it'll go more like the taking of David Ward's embassy. Lots of bluster, and precautions having to be taken, but little actual resistance on the day of reckoning.

Was there ever a video release of that one? I think Tom Crawford single handedly killed the eviction mobs off.

[TheNewSaint]

Was there ever a video release of that one? I think Tom Crawford single handedly killed the eviction mobs off.

If anything, Crabby and Ward could take lessons from Tom Crawford. He was good at raising supporters. He was good at convincing dumbass GOODF forum readers that his eviction was totally arbitrary, and the same thing could happen to them if they didn't rise to his defense in his completely self-inflicted problems. He delayed the inevitable as long as possible.

White has no real, boots-on-ground support. He'll ask his CLC and other Facebook followers, but none will cancel their plans and go to Sheerness when the day comes. I think he'll be disposed of with minimal fuss.

[longdog]

It would take something quite special to make me go to Sheerness ever again.

I once bought an Austin Allegro there which probably proves something. The Allegro was nowhere near as bad as people say but whatever my point is still stands... Probably.

[John Uskglass]

Say what you like about the rise of intolerance in society, but when someone feels they can admit to having bought an Allegro on a public forum, there's still hope.

[longdog]

I had the thing for three years and the only thing I ever did was put petrol in it.

Apart from the looks it was the best car per £ I ever had. Sailed through two MOTs, could do 90MPH, amazingly good handling, 35MPG and the only thing wrong with it was the oil pressure light stayed on all the time. So I took the bulb out.

[hucknallred]

I had the thing for three years and the only thing I ever did was put petrol in it.

Apart from the looks it was the best car per £ I ever had. Sailed through two MOTs, could do 90MPH, amazingly good handling, 35MPG and the only thing wrong with it was the oil pressure light stayed on all the time. So I took the bulb out.

Was the Allegro lift for reverse on the stick? I remember going with my dad when he bought a car privately in the 70s. Looked at it, did a deal, paid the cash, got the log book, got in, fired it up, put in reverse, gearstick detatches in his hand.
Previous owner has bolted the door & shut the curtains.

[AnOwlCalledSage]

White has no real, boots-on-ground support.

Not quite true. He has CLC videographer supreme Roland staying with him. So I expect we can see two birds killed with the same stone so to say. Unless Roland get's bored with the Sheerness nightlife.

[Dr. Caligari]

It would take something quite special to make me go to Sheerness ever again.

Are we talking about the same place as Sheerness-on-Sea?
That was the first place I ever stepped onto British soil, back in 1975, when I got off a ferry from Holland.

[longdog]

Was the Allegro lift for reverse on the stick? I remember going with my dad when he bought a car privately in the 70s. Looked at it, did a deal, paid the cash, got the log book, got in, fired it up, put in reverse, gearstick detatches in his hand.
Previous owner has bolted the door & shut the curtains.

I honestly can't remember. Mine did have the "square" steering wheel which was so annoying I was determined to replace it from the word go. I never got around to it though.

[Royalman]

To be precise a Quartic steering wheel. Another BLMC idea that though brilliant in its concept was never accepted by the Customers. And as they say "Customers make pay day possible".